weswelker#83

The Bush administration is asking Congress to let the government buy $700 billion in bad mortgages as part of the largest financial bailout since the Great Depression.
The plan would give the government broad power to buy the bad debt of any U.S. financial institutions for the next two years. It also would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion -- making room for the massive rescue.

Rescue plan seeks $700B to buy bad mortgages: Financial News - Yahoo! Finance




He would have been right to announce that the U.S. is going to scour the world and confiscate every last dollar of wealth that was hoarded up in the last 7 years by the management and directors of every failed company that we bailing out.Until anybody in DC announces THAT plan, I'm not trusting a ****ing one of them. And another thing, I don't care if we spend $100B on the hunt and only recover $10B. The United States government has got to show these pigs that they can't get away with it, not now and not ever again.

MrBigglesWorth

too bad the government is in bed with them.

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

weswelker#83

Exactly.....

From text of the new bailout plan: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

MrBigglesWorth

you have to think this is the start of the downfall of the nation which has been looming for the decades. I think the floodgates are ready to open.

Id say before the country was hijacked but now it's bigtime.

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

PressCoverage

worst president in U.S. history.. period, end of story.

this is what happens when you put a C-student with a substance abuse problem and a history of failed businesses in charge....

amazingly, however, some people cling desperately to insisting that Boy King is a genius fit for office simply because he financed Arlington Stadium and learned to fly a jet.

MrBigglesWorth

I'll agree, but you have to look at this as decades of abuse and manipulation of the stock market creating fake wealth and when the piper comes to collect people and companies can't anty up. Clinton is to blame for the dot coms and his buddy Alan Greenspan.

When is the last time the country had a balanced budget?

there is plenty of blame to pass around from government to citizens to our general materialistic and wasteful culture.

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

PatriotsReign

Can anyone tell my why it is legal for federal government agencies to meet behind closed doors and then make any information that was discussed at that meeting "secret".

I mean fukc, they work for us and they're giving away OUR money! Am I missing something here folks?

This is exactly why we must ask our representatives to create a law that makes it illegal for any government agency to give or loan money to a private business agency moving forward. The precedent has been set. If we don't pass such a law, all major essential businesses in this country will run their business as if a permanent safety-net will be provided to them. That means they will continue to take huge risks instead of running their businesses conservatively as they should.

If this law had already been in place, I gurarantee you they never would have gotten to the point where they needed to be bailed out. The S&L fiasco set the precedent and they all they this would be provodided to them.

Anyone see anything wrong with such a law?

MrBigglesWorth

same reason Bush can place an order keeping someone from testifying.

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers

PatriotsReign

And that reason would be?

i know presidential privaledge or discretion does not apply.

MrBigglesWorth

because they're hiding stuff. if they can't be straight with the public then there is no reaosn to trust them

__________________
"There are two categories of superbowl participants that nobody remembers:

The team that lost the game and the team that only won one." Dwight White- Steelers